SOA FAMFundamentals of Actuarial Mathematics
Associateship (ASA)
3.5 hours (1.75h per half if split)·34 multiple-choice (17 + 17)·≈350 study hoursScore 0/0 · 11 MC
- FAM · Q1Written answerFAM-S: Insurance & reinsurance coverages
A policy has an ordinary deductible of 500, a policy limit (maximum covered loss) of 5,000 and 80% coinsurance. Losses are exponential with mean 2,000. Derive the expected payment per loss and per payment.